Economy in Brief

German IP fell by 0.5% in February as manufacturing IP fell at the same pace. Both series continue to demonstrate acceleration profiles in output from 12-month to six-month to three-month. IP is up at a 6.8% annual rate over three [...]

The Mortgage Bankers Association reported that its total Mortgage Market Volume Index increased 2.7% last week (3.4% y/y), following three weeks of decline. Refinancing applications jumped 6.8% (-1.9% y/y) after six weeks of sharp [...]

Regular gasoline prices were little changed last week at $2.08 per gallon (-13.7% y/y) versus $2.07 in the prior week, according to the U.S. Department of Energy. The price compares to a 2014 high of $3.71 per gallon. Haver Analytics [...]

The job openings rate fell to 3.7% during February from 3.8% in the prior month, revised from 3.7%. The decline left the reading stuck in the sideways trend of the last ten months. The private sector job openings rate of 3.9% compared [...]

On a day IMF Managing Director Christine Lagarde had chosen to rebuke the industrialized nations on their need to do more to stimulate global growth, German industrial orders have fallen largely because of weakness in orders overseas. [...]

The Composite Index of Nonmanufacturing Sector Business from the Institute for Supply Management (ISM) increased to 54.5 during March versus an unrevised 53.4 in February. It was the highest reading in three months. Consensus [...]

The U.S. foreign trade deficit increased to $47.1 billion during February from $45.9 billion in January, revised from $45.7 billion. It was the deepest trade deficit since August. A deficit of $46.2 billion was expected in the Action [...]

New orders in the manufacturing sector declined 1.7% during February (+0.1% y/y) and reversed the prior month's 1.2% increase. The decline reflected a little-revised 3.0% drop in durable goods orders. These orders were pulled lower by [...]